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July 15, 2015

PwC China appoints chairman

Raymund Chao has been appointed chairman for PwC Greater China, replacing Silas Yang after a 32-year career at PwC.

Chao has also joined PwC global assurance leadership team, a group of five senior partners who set the strategy of the accounting network.

The other four are Robert Moritz and Ian Powell chairmen in the US and UK, respectively; Norbert Winkeljohann, senior partner of PwC Germany; and Dennis Nally, chairman of PwC International, an entity that coordinates the whole network.

Chao previously served as assurance leader for China and Asia Pacific.

According to the Chinese Institute of Certified Public Accountants, the network led accounting league tables with revenues worth CNY3,351.4m ($546.8m) in 2014.

As far as staff is concerned, Ruihua CPAs, third highest-earning firm with CNY2,775.9m, took the top spot employing 7,887 people of whom 2,335 are partners.

PwC China has not disclosed data for International Accounting Bulleting surveys for more than eight years.

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